BUSINESS NEWS
Half of Scots defer travel plans as cost of living hits
A survey in Scotland has detected “the biggest shift in Scottish consumer confidence in living memory”, with nine out of 10 Scots “seriously concerned” about the cost of living, according to researchers. The study by research firm 56
Degree Insight and marketing agency The Union was conducted following the Westminster government’s mini-Budget in late September which led to the fall of Liz Truss as PM. It suggested 89% of people in
Scotland have serious concerns about the rising cost of living and three-quarters (75%) report increased stress due to the crisis. More than half of Scots (54%)
reported worry “about paying bills” and six out of 10 (63%) expressed concern about “putting food on the table”. One in three (35%) admitted concern about paying off loans and credit cards and 36% reported “major worries” about paying their mortgage or rent. Almost nine out of 10 (87%)
reported delaying or cutting back on purchases, particularly leisure purchases, in addition to cutting back on big-ticket items including travel.
A poll of Scottish consumers reveals travel is third in a list of spending categories facing cutbacks
The survey found 45% were
spending less time planning holidays and 46% would delay decisions on holidays or cut back on holidays next year as a result of the cost-of-living crisis – putting travel third from top of a list of 17 discretionary spending items facing cutbacks behind clothes purchases (55%) and spending on treats and luxury items (51%). The researchers say the findings
make “sober reading”, with “people in Scotland, especially families, pushed to the limit” and suggest “a disconnect between the reality of public sentiment and the current consensus among legislators,
retailers and consumer brands”. The survey was carried out
among more than 1,000 adults in Scotland on October 14-16.
•Spending on overseas travel in October remained up year on year,
according to the latest Barclaycard UK consumer spending report. Barclaycard reported travel agents saw a 48% increase in card transaction value on October 2021 and airlines a 38% increase. This followed an increase of 95% year on year in card spending with agents in September and 60% increase with airlines. By contrast, spending on eating out fell for a third consecutive month.
‘A tax on airlines for jet fuel could raise £6.7bn’
A leading environmental lobby group called on the UK government to impose a kerosene tax on flying as the COP27 climate conference got under way in Egypt. Transport & Environment
issued a study suggesting taxing aviation fuel at the same rate as UK motorists pay in fuel duty on petrol and diesel would raise £6.7 billion a year – roughly double what is raised in APD. The group pointed out
airlines “have never paid a penny of duty on fuel at UK airports”. It argued the revenue raised
from a kerosene tax could be reinvested in aviation decarboni- sation by spending on “acceler- ating the uptake of sustainable aviation fuel and development of zero-emission aircraft”. Matt Finch, UK policy manager
at Transport & Environment, argued: “The UK is effectively a tax haven for airlines. Any British motorist paid more fuel duty last time they filled up than British Airlines has ever paid.”
•Finch is due to speak at the Travel Weekly Sustainability
Summit on November 24.
BTA chief calls for collaboration to fund SAF efforts
The Business Travel Association (BTA) has called on the government, airlines and the travel industry to collaborate in subsidising the cost of sustainable aviation fuels (SAF) to accelerate their development.
travelweekly.co.uk
The BTA issued its call to
coincide with the COP27 climate conference in Egypt as the association published its latest report on environmental, social and governance (ESG) issues in corporate travel, entitled ‘Sustainable Aviation Fuel: a journey towards innovation’. It called for the development of
sustainable booking platforms and SAF credits. BTA chief executive Clive Wratten
Clive Wratten
now and possess the potential to significantly decarbonise the travel industry. It’s our responsibility to implement government-mandated booking platforms that educate travellers on their sustainable activity at the point of sale. “Providers, travel management
argued: “Words are no longer enough. We need to work together to form a clear pathway to net zero.” He said: “SAFs are available
companies [TMCs] and government bodies must collaborate to deliver sustainable aviation fuels and ensure the decarbonisation of aviation.”
17 NOVEMBER 2022 71
PICTURES: Shutterstock/Miguel Lagoa, fizkes
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